實德金融策略研究部

股票推介 - 中國海洋石油 (00883.HK)

2015-09-09

 中國海洋石油(00883.HK)受惠油價回升

8月份,國際原油價格一度下跌至38美元一桶之下水平,其後獲買盤吸納,在8月底時,以接近全月最高位收盤,顯示油價終見底回升,短期內將向上測試60至63美元阻力。

油價自去年中從高位108美元水平大幅下跌,足足跌了65%,終至上月見底,油價可望回升。投資者除可考慮直接買入原油期貨外,亦可考慮吸納與油價有關聯的股票。

中國海洋石油(00883.HK)是筆者首選。集團主要從事原油、天然氣及其它石油產品的勘探、開發、生產與銷售活動。

雖然由於短期內供應過剩、伊朗原油前景,以及對中國的憂慮,將會阻礙油價反彈的速度,但長遠而言,油價將回覆合理價值,筆者認為,油價將回順至70至75美元水平。

由於中國市場不明朗,及油價積弱,市場對國內油企估值出現過度反應,目前正是趁低吸納的時機,預期中海油(00883.HK)之自由現金流收益率可達6至10%;而現時市盈率只是5.54倍,收益率則有6.11%,加上公司負債佔比在40%之下,屬健康水平。

建議投資者於9.10元左右買入,短線目標11元;中線則可測試13.50元。



(筆者為香港證監會持牌人士 - 李慧芬小姐)

電郵: research@successfn.com

(The above displayed are just writers’ own opinions and for readers’ reference only. Financial markets are volatile and please be careful of the risks.)NOTICE

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